Pop star Selena Gomez latest North Texas native to reach billionaire status
Selena Gomez, the 32-year-old actress and business owner, just hit billionaire status according to the Bloomberg Billionaires Index.
The Grand Prairie native is estimated to be worth $1.3 billion, 81% of that coming from her beauty brand, according to Bloomberg. However, she has been in the public eye for years since getting her start on Disney Channel as child star Alex Russo on Wizards of Waverly Place.
“Selena is not just a pop star,” said Stacy Jones, founder and chief executive officer of Hollywood Branded, a Los Angeles-based branding agency. “She’s a multifaceted businesswoman with diverse income streams contributing to her impressive net worth.”
She has owned Rare Beauty, a makeup company, for five years now. The brand focuses on authenticity and is popular among the younger generation. 1% of Rare Beauty’s sales go to philanthropic missions under the “Rare Beauty Impact,” with a goal of raising $100 million. So far, they’ve amassed $16 million and donated to 26 different mental health charities.
However, what many people may know Gomez from now is her Emmy-nominated show, Only Murderers in the Building, on Hulu. Her acting only makes up about 1.3% of her net worth.
She is executive producer and co-stars with comedian Steve Martin and Martin Short. According to Variety, Gomez took home $6 million from the past four seasons. The show was just renewed for a fifth season.
Bloomberg broke down Gomez’ income based on her stake in business and assets. Here is what they concluded.
Rare Beauty: 81.4%
Endorsements: 6.9%
Touring: 4.8%
Wondermind (mental health-fitness brand that Gomez takes part in): 2.6%
Albums: 1.8%
Acting: 1.3%
Streaming: 0.3%
Real Estate: 0.6%